SENATE AMENDMENT

    Bill No. CS/HB 339

    Amendment No.    

                            CHAMBER ACTION
              Senate                               House
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11  Senator Holzendorf moved the following amendment:

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13         Senate Amendment (with title amendment) 

14         On page 8, between lines 18 and 19,

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16  insert:

17         Section 10.  Subsection (1) of section 624.4072,

18  Florida Statutes, is amended to read:

19         624.4072  Minority-owned property and casualty

20  insurers; limited exemption for taxation and assessments.--

21         (1)  A minority business that is at least 51 percent

22  owned by minority persons, as defined in s. 288.703(3),

23  initially issued a certificate of authority in this state as

24  an authorized insurer before June 1, 2000, after May 1, 1998,

25  to write property and casualty insurance shall be exempt, for

26  a period not to exceed 10 5 years from the date of receiving

27  its certificate of authority, from the following taxes and

28  assessments:

29         (a)  Taxes imposed under ss. 175.101, 185.08, and

30  624.509;

31         (b)  Assessments by the Florida Residential Property

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                                                  SENATE AMENDMENT

    Bill No. CS/HB 339

    Amendment No.    





 1  and Casualty Joint Underwriting Association or by the Florida

 2  Windstorm Underwriting Association, as provided under s.

 3  627.351, except for emergency assessments collected from

 4  policyholders pursuant to s. 627.351(2)(b)2.d.(III) and

 5  (6)(b)3.d. Any such insurer shall be a member insurer of the

 6  Florida Windstorm Underwriting Association and the Florida

 7  Residential Property and Casualty Joint Underwriting

 8  Association. The premiums of such insurer shall be included in

 9  determining, for the Florida Windstorm Underwriting

10  Association, the aggregate statewide direct written premium

11  for property insurance and in determining, for the Florida

12  Residential Property and Casualty Joint Underwriting

13  Association, the aggregate statewide direct written premium

14  for the subject lines of business for all member insurers.

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16  (Redesignate subsequent sections.)

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19  ================ T I T L E   A M E N D M E N T ===============

20  And the title is amended as follows:

21         On page 1, line 16, following the semicolon

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23  insert:

24         amending s. 624.4072, F.S.; revising tax

25         exemptions for certain minority-owned property

26         and casualty insurers;

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